Rock Holdings Acquires Lead Generation Companies
Quicken Loans parent company Rock Holdings has agreed to buy two online marketing service providers, marking the Dan Gilbert-owned conglomerate's entrance into the lead acquisition space.
Rock Holdings will purchase LowerMyBills and ClassesUSA from their parent company, Core Digital Media, the Detroit-based company said Friday. Terms of the deal were not disclosed, but Rock Holdings expects the acquisition to close in the first half of 2017 and plans to retain the companies' current leadership.
The two companies' day-to-day operations will also continue to be run from their current Los Angeles headquarters.
"LowerMyBills and ClassesUSA play a meaningful role in helping consumers find the best online solutions for their goals," Rock Holdings Vice President Graham Skidmore said in a news release. "Through these acquisitions, and the planned capital investments, we are confident these businesses will continue to grow and meet the evolving needs of their customers."
LowerMyBills, through its website, connects mortgage borrowers with lenders for refinance, purchase and reverse mortgage loans.
ClassesUSA runs a portal designed to help students search for higher-education opportunities from more than 300 schools and 1,600 degree and certification programs.
Rock Holdings' latest acquisitions continues a buying streak for the company. In late December, its subsidiary In-House Realty announced it would buy the Toronto-based technology group and its home and real estate agent search technology platform from Santa Monica, Calif.-based OpenHouse Realty.